Replay Acquisition in an 8-K filing announced that its shareholders voted in favor of the business combination with Finance of America Equity Capital.
The transaction implies an equity valuation at closing for the combined company of $1.9 billion. Estimated cash proceeds will consist of a $250 million PIPE in addition to Replay Acquisition’s $288 million of cash in trust, subject to any redemptions.
The SPAC in the filing does not disclose redemption numbers, although more than 11 percent of voted shares were cast against the merger. Read more.
